Historic funding round values OpenAI at US7 billion

Historic funding round values OpenAI at US$157 billion

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OpenAI, the company behind ChatGPT, secured US$6.6 billion in new funding, propelling its valuation to US$157 billion and cementing its position as the world leader in artificial intelligence.

The landmark investment, one of Silicon Valley’s largest, was announced by OpenAI on Wednesday.

Founded in 2015 and led by Sam Altman, OpenAI plans to use the funds to advance its AI research, increase computing capacity, and develop tools for solving complex problems.

Thrive Capital led the funding round, with participation from SoftBank, Microsoft, Nvidia, Tiger Global, and MGX, an investment firm controlled by the United Arab Emirates.

A keyboard is placed in front of a displayed OpenAI logo in this illustration taken February 21, 2023. Photo: Reuters

Apple, which uses OpenAI models in its generative AI offerings, withdrew from negotiations on participating in the funding.

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